Sensitivity Number of Lease Contracts Variable payments % COMPANY Sep-24 MUR m Sep-23 MUR m Sep-24 Sep-23 Sep-24 Sep-23 Property leases with payments linked to inflation 7.5 9.6 18 17 78% 81% Property leases with pre-determined fixed payments 0.7 0.7 5 4 22% 19% 8.2 10.3 23 21 100% 100% Extension and termination options Extension and termination options are included in a number of property leases across the Group. These are used to maximise operational flexibility in terms of managing the assets used in the Group’s operations. The majority of extension and termination options held are exercisable only by the Group and not by the respective lessor. Lease term In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. Extension options are only included in the lease term if the lease is reasonably certain to be extended. For leases of administrative buildings, the following factors are normally the most relevant: If there are significant penalties to terminate, the Group is typically reasonably certain not to terminate. If any leasehold improvements are expected to have a significant remaining value, the Group is typically reasonably certain to extend. Otherwise, the Group considers other factors including historical lease durations and the costs and business disruption required to replace the leased asset. As at 30 September 2024, no potential future cash outflows in respect of termination and extension of lease have been recognised. The lease term is reassessed if an option is actually exercised or the Group becomes obliged to exercise it. The assessment of reasonable certainty is only revised if a significant event or a significant change in circumstances occurs, which affects this assessment, and that is within the control of the lessee. GROUP COMPANY Sep-24 MUR m Sep-23 MUR m Sep-24 MUR m Sep-23 MUR m Interest expense (included in finance cost) (note 5(b) ) 10.8 12.3 10.4 12.2 Expense relating to short-term leases (included in other operating expenses) 1.0 0.4 1.0 0.4 11.8 12.7 11.4 12.6 The total cash outflow for leases in Group in 2024 was MUR 52.3m (2023: MUR 45.9m); made of capital MUR 41.5m (2023: MUR 33.6m) and interest MUR 10.8m (2023: MUR 12.3m); and in Company was MUR50.4m (2023:MUR 45.3m); made up of capital MUR 40.0m (2023: MUR 33.1m) and interest MUR 10.4m (2023: MUR 12.2m). 24. INTANGIBLE ASSETS (a) GROUP Customer portfolio MUR m Goodwill on acquisition MUR m Dealer relationship MUR m Software/ others MUR m Total MUR m Cost At 1 October 2022 31.0 12.8 – 317.3 361.1 Acquisition of subsidiary – – 48.5 – 48.5 Additions – – – 12.3 12.3 Forex adjustment – – – (4.8) (4.8) At 30 September 2023 31.0 12.8 48.5 324.8 417.1 Additions – – – 8.0 8.0 Scrapped assets – – – (0.1) (0.1) Forex adjustment – – 1.5 5.0 6.5 At 30 September 2024 31.0 12.8 50.0 337.7 431.5 187 Introduction Group Overview Leadership Strategy & Performance Risk Management Corporate Governance Statutory Disclosures Financial
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